Hi Crash,

What about forgetting about consulting and become an investor? (Dont help others, help yourself).

Spend some time (as you are) learning on the forum, and go out and find different ways to get that 20% deposit. You’ll be surprised how quick things start moving.[8D]

Just a thought.
Good luck[]
Del

Hi Delight,

I know the area fairly well, and we have an IP in Traralgon. Morwell prices have gone nuts !! A couple of months ago that house was probably listed for $60K. Beware.[]

The Latrobe Valley is infested with investors!!!

You may have big vacancies, unless this house is better than the next one for rent (probably nextdoor). Sounds…[Read more]

Hi JayJay

Your idea seems fine, except to buy propeties in a company structure you will lose the 50% CGT exemption. The rule of thumb is generally to never purchase appreciating assets in a company.

I suggest you contact your accountant. I am not one, but a trust structure would probably suit your purpose better. I’d have a read of “Wealth…[Read more]

Hey dynamic duo,

That’s excellent. Good on you.

I can sympathise with you your situation. We too are in a similar boat. This week has been a very bumpy ride!!!

I have faith in our broker, and G-d. Things will work out for those who persist.

Persist, Persist, Persist.(and sometimes pray)[]

Del

Hi Captain,

If there was, there would be no +ve cashflow properties left. We’d all snap them up pretty quick I think!!

The best part is doing the research yourself and actually finding one![]

Good luck,

Del

Hi Terry,

Interesting figures. I think because Steve doesn’t view the wraps as a long term strategy, but the buy and holds are.

it wouldn’t be a good wealth creation program if 130 wrappees cash him out in 3 years!

Otherwise his next book could be titled “From 130 to 0 in 3.5 years!! []

Del

Hi David,

Sometimes it’s not black and white…Only you can really make this decision. This is a lifestyle decision over an investment decision. If it were all about money, we’d all live in boxes, and have lots of IP’s, but sometime in the near future (maybe) the pitter patter of little feet may impact your decision. You may be looking for more…[Read more]

Hi Dennis,

A good place to start is to go out and buy “Property Investor Magazine”. It covers towns & rental yields etc. It gives a good starting point, but in the end, it will be up to you to research.

When you think you have found a good area to buy, take a few days and do the leg work and go there (if you are able).

Towns with new…[Read more]

Hi Zuki,

We have 2 blocks of units, one 4 one 5. The banks should be fine with lending for 4.

One thing to be aware, was that 8% gross return? Are they all on one meter? Water rates can be a KILLER in some towns, especially in the drought areas. How do the figures come out after the council & water rates, vacancies, & repairs etc.

We like…[Read more]

Well done Westie,

They say “it’s QUALITY NOT QUANTITY THAT COUNTS!!![]ha ha ha,… and I must say you’ve got both.

Your posts are always worthwhile and informative,
and you’re not afraid to mention where you invest.

We’ll be out West soon,

Catchuthen,
Will & Del

Hi M,

Good topic!

I am definately not going against what Stu has said [] (especially today Stu)!! however, I feel there is another side to story.

For me, “price” is not the only thing to consider. We are HOPING to have several IP’s one day!! If they are all variable, I would be very concerned that all of a sudden, I’d feel like I was “losing…[Read more]

Hi Tas,

Bad luck, they try to make you feel inadequate, don’t they?? I thought that commissions were all to be “negotiated” these days, or is that in a perfect world?

Better luck next time…[]

Del & Will

Hi Cremin,

The main thing that we found was that when the property managers say the house will take “XX” weeks to rent out, you can pretty much double it.

Also, don’t believe what price they tell you you’ll get for rent. Make sure that you do your own due diligence, checking what rentals other RE Agents have on their book in the town.

Try to…[Read more]

Congratulations Andrew,

That would have been a great title! (Bad luck)[].

Steve, the book so far is GREAT, so easy to read, but I’m only up to chapter 4. I’m looking forward to spending some time today sitting next to the fire and get stuck into it!!

It’s a winner![][]

Del

Good idea Westan!!![]….Not too early though!

Talk to you soon,[]

Del & Will

Welcome to the match-stick in the eye club!!!!!

It’s hard to turn off and go to bed!![|)][|)][|)]

Del

Hi Gazza,

Congratulations on your purchase and making the decision to go out on your own! You can really pick up some great advice from some of the forumites here, and also from Steve’s “Property Secrets Revealed” etc., available from PropertyInvesting.com.

Quickbooks Pro is a good package. You can track expenses/income for each property…[Read more]

Hi archiZEN,

Yes, 20% deposit plus costs from LOC.
80% stand alone separate loan – ALWAYS!!!!!
Don’t be concerned about the LOC running dry, as long as you leave a little there for an unexpected emergency. After all, that’s why you took it out. It is there to fund deposits.

If you use variable loans for your IP’s, they are easy to refinance…[Read more]

Hi Andrew,

I agree with Regina.

Rome wasn’t built in a day.

Remember the old story about the turtle and the hare? The hare run out of puff and the turtle just walked home, slow and steady.[^]

My opion anyway,
Good luck,

Del

Hello Freedom,

My best advice:

Dump your bank and find a GOOD mortgage broker.

Beware there are a lot of AVERAGE ones out there.

Make sure they spend the time with you, to find out what you’re looking for in the future, not just getting “approval” for the current loan.

As Westan said, if your loans are all +ve Cashflow, then your income…[Read more]